Priority Technology (NASDAQ:PRTH) Trading Up 7%

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price shot up 7% on Thursday . The stock traded as high as $6.29 and last traded at $6.27. 13,760 shares were traded during trading, a decline of 69% from the average session volume of 44,742 shares. The stock had previously closed at $5.86.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price target on shares of Priority Technology from $4.50 to $5.00 and gave the stock a “market perform” rating in a report on Friday, August 9th.

Priority Technology Stock Up 2.2 %

The business has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $4.08. The company has a market cap of $479.59 million, a PE ratio of -10.81 and a beta of 0.97.

Insider Activity

In other Priority Technology news, Director John Vito Priore sold 598,187 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $3.56, for a total transaction of $2,129,545.72. Following the completion of the transaction, the director now directly owns 8,752,711 shares in the company, valued at $31,159,651.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Tim O’leary acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $4.10 per share, for a total transaction of $41,000.00. Following the acquisition, the chief financial officer now owns 59,752 shares of the company’s stock, valued at approximately $244,983.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Vito Priore sold 598,187 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $3.56, for a total transaction of $2,129,545.72. Following the sale, the director now directly owns 8,752,711 shares of the company’s stock, valued at approximately $31,159,651.16. The disclosure for this sale can be found here. Insiders have sold 684,407 shares of company stock worth $2,564,997 in the last quarter. Corporate insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after buying an additional 156,044 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Priority Technology during the 2nd quarter worth $301,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Priority Technology during the 1st quarter valued at about $164,000. Panagora Asset Management Inc. grew its holdings in shares of Priority Technology by 22.5% in the fourth quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock valued at $152,000 after purchasing an additional 7,812 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Priority Technology during the second quarter worth about $202,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

About Priority Technology

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.